Three months ended

Nine months ended

Periods ended September 30, (in thousands, except per share data)

2022

2021

2022

2021

Net income

$

4,336

$

3,453

$

11,750

$

12,332

Less: Undistributed earnings allocated to participating securities

(72

)

(53

)

(207

)

(184

)

Net income allocated to common stock

$

4,264

$

3,400

$

11,543

$

12,148

Weighted-average common shares issued

5,784

5,724

5,765

5,706

Less: Unvested restricted stock awards

(97

)

(90

)

(101

)

(85

)

Weighted average common shares outstanding used to calculate basic earnings per common share

5,687

5,634

5,663

5,621

Add: Dilutive effect of stock options

26

52

33

39

Weighted-average common shares outstanding used to calculate diluted earnings per common share

5,713

5,686

5,696

5,660

Earnings per common share (basic)

$

0.75

$

0.60

$

2.04

$

2.16

Earnings per common share (diluted)

$

0.75

$

0.60

$

2.03

$

2.15